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Financial regulators don’t like taking bad actors to court, ‘cos they might lose — they prefer admin orders, or, best of all, market participants behaving in a reputable manner. But sometimes, they have a really nice win. This ruling (archive) is against Patrick K. McDonnell and CabbageTech Corp., for running a boiler room investment scam grift. Apart from punishing a fraudster and putting similar fraudsters on notice, the ruling demonstrates that fraud and manipulation in crypto transactions really is in the CFTC’s jurisdiction, and they can bust you.

Bitcoin is the only currency that fulfils the requirements of sound money:✅ 95% owned by like 20 people✅ each transaction costs over $100✅ price manipulated by fake Tethers printed out of thin air✅ no more than 7 tx/s✅ all the network is controlled by 4 dudes in China.

CEO: FashionBoard: 🐑 CIO: Fear of being found outCTO: Their technical knowledge is years out of date Tech Arch: For the CVDevs: The fundamental inefficiencies of blockchain mean your code doesn’t need to be fast, good or even work

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The content of this site is journalism and personal opinion. Nothing contained on this site is, or should be construed as providing or offering, investment, legal, accounting, tax or other advice. Do not act on any opinion expressed here without consulting a qualified professional. I do not hold a position in any crypto asset or cryptocurrency or blockchain company.